Wednesday, March 23, 2011

Short To Close & Stay Aside

Date of entry: 23 March 2011
Long FKLI For Potential Continuation Of Trend
I reentered long position of FKLI of March 2011 future contract at 1510.5 for 3 contracts. There is high chance that the market will rebound after touching the moving average - high (the purple line).

Date of exit: Same Day
Short To Close & Stay Aside
I shorted to close my long position at 1508.5 with a loss of 3 points after 1 point commission is included. There is no strong reason to exit except that the price did not continue the upside. With some kind of shooting star and a long tail, I am not willing to risk further. I will reenter the long position if the price continue the upside and breaks above today's high.

The Loss: RM450 (3points x RM50 x3contracts = RM450)

The balance of my account is RM15,875 after the loss of RM450.
(The details of my account is at My Future Trading Account Records 2011 )

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